16 Personnel Expenses

The personnel expenses include expenses for severance payments in the amount of € 17.8 million (2020: € 3.6 million), allocations to the provisions for pre-retirement part-time work arrangements in the amount of € 0.0 million (2020: € 0.4 million) and expenses for the long-term incentive plan (LTIP) at € 6.2 million (2020: € 17.5 million) (see chapter [E39] Provisions).

In the fiscal year under review, employers’ contributions to statutory pension insurance amounted to € 49.2 million (2020: € 41.4 million).

As of December 31, 2021, Vonovia had 15,871 employees (Dec. 31, 2020: 10,622) with the annual average coming to 13,351 employees (2020: 10,572). Vonovia also employed 857 apprentices as of December 31, 2021 (Dec. 31, 2020: 510).